Set of extracts taken from famous Cousera's course: main ideas, checklists and self-tests to know yourself better, and revea your negotiating power.

1. Negotiations
Inspired by George J. Siegel
https://www.coursera.org/learn/negotiation-skills/

2. Preparing to Negotiation
Negotiating
Closing Negotiation
Major Psychological Traps
Checklists
● How to prepare
What you’ll find here..

3. Should you negotiate at
all?
Think of this first.
Define your Best Negotiation Alternative
(BATNA).
Think again.
Then continue - or not.

4. Define your negotiation style
Position-based (get a contract) or Interest-
based (establish a long-term relationship),
considering:
goal
attitudes
personal style
communications etc.

5. Define your way to talk
1.Power (fighting to each other)
2.Litigation
3.Arbitration*
4.Mediation*
5.Negotiation*
6.Avoidance
* called ADR - Alternative Dispute Resolution

6. Should you use an Agent?
In reality, many of contracts are performed via
agents.
Pro: preserving anonymity.
Con: need to check if other side’s agent has
authority.

7. Interests-based processes
Mediation
Negotiation

8. Rights-oriented processes
Litigation
Arbitration

9. Who shall make the first offer?
The other side?
Pro - conventional wisdom
Con - anchoring
Rule of thumb: let it be another side if the
price is unknown
If they pass the ball back to you - start from
information exchanging

10. Get to know the other side
meet in advance, not talking about business
more listen than talk
prepare for cross-cultural negotiation if any
get their BATNA
start negotiation with a handshake :)
know their value and beliefs (“deep culture”)

11. Is your contract ethical?
Required by Law:
no fraud
uphold your fiduciary duty
don’t act in unconscionable manner
Voluntary:
meet your organizational standards if any
follow your mentor if any
meet your personal standards

12. Your negotiation power
strong BATNA -> uncover to the other side
weak BATNA -> hide
should you lie if your BATNA is weak?
know the other side BATNA
use / be aware of Psychological Tools / Traps

13. Psychological tools/traps
Mystical Fixed Pie Assumption
Reactive Devaluation
Anchoring
Overconfidence
Framing
Availability (using easily available information only)
Escalation (or Competitive Arousal)
Reciprocation
Contrast Principle
Big Picture Perspective

14. Perspectives of contract
obtaining a contract - the primary goal of a
business entity
contract is an agreement enforceable by law
will my agreement be enforced?
dispute resolution: litigation as BATNA
freedom of contract

15. Business vs Legal aspects
legally perfect contract prevents losses
business goal is to create a value
need to keep focus on not getting into
legalities
short-term contracts: more formal
long-term contracts: tend to be more lean
visualization as a way to reduce complexity

16. Performing an Agreement
always better to prevent disputes
use ADR - mediation and arbitration
ADR tools:
corporate pledges
screens
contract clauses
online dispute resolution systems

17. What’s next?
enjoy the 6-week course at Coursera
practice the negotiations at the end of it - sell
(or buy) your uncle’s house
use the negotiation techniques to make your
life easier and happier :)
use the following checklists :)

18. Access your negotiation style
Evaluate yourself using 1..5 scale:
1. What is your goal - binding contract or creating a relationship?
2. What is your attitude - win/lose or win/win?
3. What is your personal style - informal or formal?
4. What is your communication style - direct or indirect?
5. Is your sensitivity to time high or low?
6. Is your emotionalism high or low?
7. Do you prefer specific or general?
8. Do you view negotiation as bottom up or top down?
9. Do you prefer one leader making decision, or decision by consensus?
10.Is your tendency towards risks high or low?

19. Planning negotiation: checklist
❏ What is my goal? What I want to achieve?
❏ What is my BATNA?
❏ Will I disclose my BATNA to the other side?
❏ How can I improve my BATNA?
❏ What is the other side’s goal? How they would achieve that?
❏ What is the others side’s BATNA?
❏ How can I weaken the other side’s BATNA?
❏ What issues are likely to arise during negotiations? List each, and provide:
❏ is it tradable?
❏ if not - why is it important to you?
❏ is it tradable for the other side?
❏ if not - why it is important for the other side?
❏ Do I have a personal long-term relationship with the other side?
❏ Using the list of issues - what are the ways to provide benefits for both sides?
❏ What is my Reservation price?
❏ What is my Most like price?
❏ What is my Stretch goal?
❏ Should I be the first to state the price?
❏ I am negotiating as an agent? If so, what are my limits of authority?
❏ Is the other side negotiating as an agent? If so, what are their limits of authority?

20. Closing contract: law checklist
❏ are you using a preliminary document?
❏ have you reached a final agreement?
❏ have both sides given up something?
❏ is the agreement legal?
❏ is the agreement in writing? (know Parol Evidence rule!)
❏ does your written contract cover all the terms that you
negotiated?
❏ are there any implied terms that are not part of the
contract?

21. Web links
The Book: Negotiating for Success: Essential Strategies
and Skills by George Siedel
Harward Business Review articles:
Turning Negotiation into a Corporate Capability
Getting Past Yes: Negotiating as if Implementation
Mattered

22. About..
..these slides - they contain only small piece of
information given in the course - strongly
recommend.
..the creator of this presentation - see me in
LinkedIn.